Equity Derivatives - Front Office Risk

Location: London
Business Area: Investment Bank - Equity Derivatives
Reporting line: Global Equity Derivatives Leadership

Role Overview

This is a senior, front‑office In‑Business Risk role embedded within the Equity Derivatives franchise. The role partners closely with global trading leadership and sits above individual desks, providing portfolio‑level risk oversight, challenge and strategic input across the equities platform.

The successful individual will act as a trusted risk partner to senior traders and management, identifying thematic and systemic risks, shaping risk mitigation strategies, and enhancing how risk is monitored, understood and communicated across the business.

This role is not a traditional Market Risk position. It is commercially oriented, first‑line in nature, and focused on supporting trading management in decision‑making around portfolio construction, hedging, and risk concentration.

Key Responsibilities

Portfolio Risk Management

• Run dynamic portfolio‑level stress testing across the global equity derivatives book, assessing tail risks, correlations, concentrations and scenario impacts.
• Review portfolio hedges, overlays and residual risks in partnership with trading leads.
• Identify thematic and systemic risks arising from market structure, flows, events or positioning across desks and regions.
• Recommend risk mitigation strategies and hedge overlays where appropriate and relevant.

Risk Oversight & Deep Dives

• Coordinate structured book reviews and deep dives across Equity Derivatives desks, following an agreed governance framework and cadence.
• Provide insight into material risk drivers across products including flow, exotics, structured products, QIS and equity financing.
• Support Trading Management in understanding cross‑book interactions rather than siloed desk risks.

Reporting & Data Quality

• Own and enhance in‑business risk reporting, ensuring outputs are insightful, forward‑looking and decision‑useful.
• Deliver regular and ad‑hoc reporting to senior trading management and other key stakeholders.
• Drive improvements in data quality, consistency and transparency, working alongside Technology, Quant and Risk teams.

Governance, Limits & Coordination

• Drive the monitoring and coordination of risk, capital and regulatory limits across regions and globally.
• Ensure limit adherence is understood, proactively monitored and escalated where appropriate.
• Act as a senior interface between Trading, Market Risk, Finance, Capital and Regulatory teams.

Senior Stakeholder Engagement

• Work directly with Global Heads of Trading, desk leads and senior management, providing credible challenge and commercial insight.
• Support senior management decision‑making during periods of market stress or heightened volatility.
• Contribute to the ongoing evolution of the Equity Derivatives in‑business risk framework.

Required Background & Profile

• Significant experience within Equity Derivatives, gained through:
  • In‑Business / Front‑Office Risk
  • Trading or Structuring
  • Hedge Fund or Investment Bank Equities platforms
• Strong understanding of portfolio‑level risk dynamics, including hedging, correlation, stress behaviour and event risk.
• Credible communicator with the ability to engage and challenge senior traders constructively.
• Experience across complex products such as exotics, volatility, QIS, structured equities, delta one and equity financing.
• Comfortable operating at Senior Director / Managing Director interface level within a global organisation.
• Quantitative mindset with the ability to interpret and challenge analytics, models and scenarios.

What This Role Is Not

• Not a second‑line Market Risk or purely control‑oriented role
• Not desk‑level day‑to‑day risk monitoring
• Not product‑siloed (e.g. Delta One‑only)

Why This Role Is Critical

This position plays a key role in strengthening front‑office risk ownership, improving how portfolio risk is understood and managed, and ensuring Equity Derivatives leadership has the insight needed to navigate complex and fast‑moving markets.